The following certificate of deposit (CD) was released from a particular bank. Find the compound amount and the amount of interest earned by the following deposit. $3000 at 5.7% compounded quarterly for 5 years. What is the compound amount?
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The following certificate of deposit (CD) was released from a particular bank. Find the compound amount and the amount of interest earned by the following deposit.
$3000 at 5.7% compounded quarterly for 5 years.
What is the compound amount?
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- The following certificate of deposit (CD) was released from a particular bank. Find the compound amount and the amount of interest earned by the following deposit. $2500 at 6% compounded daily for 2 years. What is the compound amount? (Round to the nearest cent.)The following certificate of deposit (CD) was released from a particular bank. Find the compound amount and the amount of interest earned by the following deposit. $4000 at 1.07% compounded semianually for 3 years. The compound amount is $. (Do not round until the final answer. Then round to the nearest cent as needed.)The following certificate of deposit (CD) was released from a particular bank. Find the compound amount and the amount of interest earned by the following deposit. $4000 at 1.21% compounded semianually for 3 years. The compound amount is $ (Do not round until the final answer. Then round to the nearest cent as needed.) The interest earned is $. (Do not round until the final answer. Then round to the nearest cent as needed.)
- Determine the interest rate earned on a $450 deposit when $475 is paid back in one year.2. The Company place a fixed deposit of $1,000,000 with the bank on 28.12.10 for a period of 7 days and would earn an interest of $700 upon maturity. What is the double entry on 31.12.10 to record the accrued interest earned?What is the current CD (certificate of deposit rate) from your financial institution (bank) for a CD of any term less than 1 year and a CD of any term more than 3 years?
- 5. Assume you deposit RM1,000 into a savings account every three months that compounds interest semiannually. a. Determine the payment period (PP) and compounding periods (CP) b. State the payment period greater than or less than the compounding period.1. A bank is offering to sell certificates of deposit valued at $ 5,000.00. At the end of 3 years, the bank will pay $5,310.00 to the certificate owner. Based on a three- month interest period: What is the interest rate the bank is paying you each interest period? b) deposit? What are the nominal and effective interest rates on this certificate ofFind the compound amount for the following certificate of deposit. Assume daily compounding. Amount Deposited Interest Rate Time in Years Compound Amount $3000 4% 2 $ Click the icon to view the compound interest table for time deposit accounts, Complete the table below. Amount Interest Deposited Rate $3000 4% 2 (Simplify your answer. Round to the nearest cent as needed.) Table for Time Deposits Accounts Compounded Daily Number of Years 1 2 3 4 Time Compound in Years Amount 50 10 Compound Interest for Time Deposit Accounts Compounded Daily 1% 2% 3% 1.01005003 1.02020078 1.03045326 1.02020106 1.04080963 1.06183393 1.03045411 1.06183480 1.09417024 1.04081020 1.08328469 1.12749129 1.05127038 1.10516789 1.16182708 1.22138937 1.28400343 1.10516940 1.22139607 1.34984217 1.49179200 1.64866481 1.17350058 1.22138603 Print 4% 5% 1.04080849 1.05126750 1.08328232 1.10516335 1.12748944 1.16182231 Done Number of Years 1 3 4 5 10 . X -
- A $1500 certificate of deposit held for 97 days was worth $1519.80. What simple interest rate was earned? Assume a 360-day year. The certificate of deposit earned an interest rate of %. (Type an integer or decimal rounded to the nearest tenth as needed.)Related to Checkpoint 5.3) (Compound interest with non-annual periods) Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period: Account Holder Amount Deposited Annual Interest Rate Compounding Periods Per Year (M) Compounding Periods (Years) Theodore Logan III $ 1,100 18 % 4 6 Vernell Coles 95,000 8 2 2 Tina Elliot 9,000 8 1 5 Wayne Robinson 119,000 12 3 4 Eunice Chung 30,000 18 6 6 Kelly Cravens 14,000 12 12 5(Related to Checkpoint 5.3) (Compound interest with non-annual periods) Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period: Account Holder Amount Deposited Annual Interest Rate Compounding Periods Per Year (M) Compounding Periods (Years) Theodore Logan III $ 1,100 18 % 4 6 Vernell Coles 95,000 8 2 2 Tina Elliot 9,000 8 1 5 Wayne Robinson 119,000 12 3 4 Eunice Chung 30,000 18 6 6 Kelly Cravens 14,000 12 12 5 a. The amount of money in Theodore Logan III's account at the end of 6 years will be $enter your response here. (Round to the nearest cent.) Part 2 b. The amount of money in Vernell Coles' account at the end of 2 year(s) will be $enter your response here. (Round to the nearest cent.)…